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Earnings

EnWave Reports 2026 First Quarter Consolidated Interim Financial Results

By The Northwire Desk — AI Analysis Feb 20, 2026 · 09:00 ENW · 0.34 EnWave Corporation
ENW · Price

Executive Summary

  • EnWave reported Q1 2026 revenue of CAD $1,600 k, a 36% increase year‑over‑year driven by large‑scale machine sales and higher royalties.
  • Adjusted EBITDA loss narrowed to CAD $(585) k from $(635) k in the prior year; gross margin improved to 37% versus 29%.
  • The company signed three new commercial license agreements (CLA) for its REV™ machines in Australia, New Zealand and the United States.

Key Details

  • Revenue: CAD $1,600 k (+36% YoY).
  • Base Royalties: CAD $500 k (+18% YoY).
  • Total Royalty Revenue: CAD $627 k (+12% YoY).
  • Gross Margin: 37% (up from 29%).
  • Adjusted EBITDA Loss: CAD $(585) k (improved by $50 k YoY).
  • Net Loss – Continuing Operations: CAD $(1,108) k (18% increase).
  • Operating Expenses: SG&A total CAD $1,468 k (+16% YoY); breakdown: General & Administration CAD $516 k (+22%), Sales & Marketing CAD $553 k (+14%), R&D CAD $399 k (+11%).
  • Machine Activity: Commissioned one large‑scale machine; fabricated two additional machines on contract during the quarter.
  • Corporate Agreements:
  • CLA with Gowen Gumlu Grower’s Association (Australia) – purchase of a 10 kW REV™ machine via reseller Scitek.
  • CLA with Shinyway International Limited (New Zealand) – service provider for cannabis processing.
  • CLA and equipment purchase agreement with a U.S. snack company for a 10 kW REV™ machine.
  • Non‑IFRS Measures: Adjusted EBITDA defined; reconciliation provided in MD&A.

Notable Quotes

  • “Our Q1 performance reflects the growing demand for our vacuum microwave dehydration technology and validates our strategy of expanding royalty‑bearing commercial licenses worldwide,” – Brent Charleton, President & CEO.
Read the original news release →

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